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Transitioning toward an insurance backed compensation scheme

Last updated: 18 Apr 2017

Consulting body:
Chartered Institute of Legal Executives
Status:
Open
Period of consultation:
Runs from 10 March 2017 to 5 May 2017
CML action:
Preparing response

The Chartered Institute of Legal Executives (CILex) regulation is consulting on proposals to change their compensation fund rules.

This consultation makes a number of proposals to change the CILEx Compensation Fund Rules with a view to moving towards a largely insurance backed compensation scheme as opposed to the maintenance of a substantial fund.  

This is intended to achieve a more proportionate and cost effective regime while maintaining robust consumer protection.

We will respond to this consultation on or prior to the closing date of 5 May 2017.